Category: Commodities

Australian gold miner Northern Star Resources (ASX: NST) has released its latest quarterly report, revealing mixed results for the March 2023 quarter. The company sold 363koz of gold at an all-in sustaining cost (AISC) of A$1,813/oz, but faced challenges due to extended mill downtime at its Kalgoorlie consolidated gold mines (KCGM) and Pogo, leading to lower production and impacting the company’s financial outlook. Production Northern Star sold 191,031oz of gold at an AISC of A$1,781/oz from its Kalgoorlie production centre, but revised its AISC guidance for Kalgoorlie due to the extended mill downtime from 1,560-1,660 up to 1,700-1,735. The Yandal production center sold 125,072oz of gold at an AISC of A$1,627/oz, meeting its yearly targets. At Pogo, Northern Star sold…

Australia’s mining industry has seen positive results in gold and lithium operations, with three of the country’s prominent miners releasing their March quarterly production reports. Westgold Resources Westgold Resources‘ (ASX: WGX) Q3 production highlights saw 60,512oz of gold produced at an all-in sustaining cost (AISC) of $2094 per oz, and the company is confident in exceeding its 2023 financial year production guidance. Westgold Resources managing director Wayne Bramwell says “our team sees additional opportunities in every one of our mines and the business functions that support them, with a view to growth, are committed to building a safe, profitable and sustainable business into (the 2024 financial year)”. Gold Road Resources Gold Road Resources‘ (ASX: GOR) Gruyere mine produced 82,604oz of…

Australia’s largest gold miner, Newcrest Mining (ASX: NCM), reported a dip in gold production in Q3 compared to Q2. The company anticipates a recovery in the April-June period and expects to meet its full-year guidance. Amid this announcement, Newcrest has opened its data room to Newmont Mining, which has offered a $29.4b bid for the company. Newcrest’s interim chief executive officer Sherry Duhe remains optimistic about the future, citing robust gold and copper pricing, favourable exchange rates, and production growth as factors driving improved performance in the final quarter of the fiscal year. Gold and Copper Production Outlook Ms Duhe announced that gold and copper production is expected to increase in the April-June period, targeting a full-year guidance of between…

The fallout from Russia’s invasion of Ukraine is driving continued strong demand for Australian resources and energy as many Western nations move away from Russia to find alternative sources of supply. The Australian Government’s June 2022 Resources and Energy Quarterly (REQ), from the Department of Industry, Science and Resources, said international demand has led to a further surge in the price and export value of many of Australia’s resource and energy commodities over the past three months. At the same time, commodities that are essential for electric vehicles, batteries and the transition to cleaner energy are also experiencing strong demand growth, with the value of lithium exports forecast to more than double by 2023-24. Overall, the June REQ forecasts Australia’s…

Alcoa Corporation has received A$10.3 million of funding from Australian governments to conduct pilot trials on a new carbon reduction technology that supports Alcoa’s Refinery of the Future initiative. Alcoa of Australia has received support to test electric calcination with A$8.6 million from The Australian Renewable Energy Agency (ARENA) and A$1.7 million from Western Australia’s Clean Energy Future Fund (CEFF). Calcination is the final stage in the alumina refining process and uses fossil fuels, primarily natural gas, to heat alumina hydrate crystals. Electric calcination, when powered with renewable energy, has the potential to significantly reduce carbon emissions. Additionally, electrification of calciners would allow significant amounts of residual energy, currently lost in the atmosphere as steam, to be captured and reused,…

The board of Iluka Resources (ASX:ILU) has approved the Eneabba Rare Earths Refinery (Phase 3) development in Western Australia. The decision followed the achievement of two central milestones associated with the project: completion of the feasibility study, demonstrating solid economics and significant potential for growth; and agreement of a risk sharing arrangement with the Australian Government, including through a non-recourse loan under the Australian Government’s $2 billion Critical Minerals Facility, administered by Export Finance Australia (EFA). Phase 3 will deliver a fully integrated refinery for the production of separated rare earth oxides at Eneabba, north of Peth. The refinery will be capable of processing rare earth feedstocks sourced from both Iluka’s portfolio and from a range of potential third party…

Ardea Resources Limited’s (ASX:ARL) Kalgoorlie Nickel Project (KNP) has been awarded Major Project Status by the Australian Federal Government. Managing Director, Andrew Penkethman, said this is a major breakthrough in the development of the project. “The Ardea team thank the Australian Federal Government and its agencies for the award of Major Project Status to the Kalgoorlie Nickel Project. “This recognition will assist in advancing the KNP towards development through stream lining the approvals process and providing access to additional sources of potential project funding. “Globally significant nickel-cobalt projects like the KNP, combined with a benign environmetal setting are a rareity. “With the award of Major Project Status, Ardea is well placed to provide a significant sustainable and ethical supply chain…

Australian Vanadium Limited (ASX: AVL) has been awarded a A$49 million grant under the Australian Government’s Modern Manufacturing Initiative Collaboration Stream towards the development of the Australian Vanadium Project near Meekatharra and Geraldton, to create an Australian green fuelled vanadium industry. Managing Director, Vincent Algar, said the Project, supported by the grant, enables new critical mineral production through the establishment of an integrated onshore Australian vanadium supply chain for steel and battery markets. “AVL is delighted to have been awarded this grant from the Australian Government. Our project will create hundreds of jobs in Australia and help to build the critical vanadium industry both locally and internationally,” Mr Algar said. “We have developed an innovative and collaborative approach to building…

Australian-based battery materials company Liontown Resources Limited (ASX: LTR) has entered into a legally binding sales and purchase term sheet with electric vehicle manufacturer Tesla for the supply of spodumene concentrate. The Agreement is for the supply of up to 150,000 dry metric tonnes (DMT) per annum of spodumene concentrate to be produced at Liontown’s Kathleen Valley Lithium Project in Western Australia and is expected to commence in 2024, representing approximately one-third of the Project’s start-up SC6.0 production capacity of ~500ktpa. Kathleen Valley is a new, globally significant, lithium development project located 680km north-east of Perth in Western Australia’s premier mining district. Underpinned by a world-class lithium deposit with a Mineral Resource Estimate of 156Mt at 1.4% Li2O and 130ppm…

Perth-based lithium exploration and development company Winsome Resources (ASX:WR1) has commenced trading on the ASX following an Initial Public Offering (IPO) which raised A$18 million. Managing Director, Chris Evans, said Winsome will utilise the funds for an intensive exploration and drilling campaign at its projects in the James Bay region of Quebec, Canada. The company will concentrate its efforts on establishing a maiden resource of high quality spodumene concentrate that is suitable for conversion across multiple battery applications. Winsome currently has three wholly owned projects – Cancet, Adina and Sirmac-Clappier. The most advanced project, Cancet, provides a shallow, high-grade lithium deposit and is located close to established infrastructure and supply chains. “Current trends show up to 10 times more lithium…

IN THE SPOTLIGHT with Peter Walker, Director at ORBIZ Q. Why are critical minerals important to Australia? To combat climate change, governments around the world are steering away from fossil fuels towards renewable sources. However, the creation of renewable energy infrastructure requires an immense amount of critical minerals to meet the exponential growth in demand. Australia is blessed with vast mineral riches, not least in critical minerals vital to our economic success. We’re the world’s leading producer of bauxite, alumina, rutile (titanium) and tantalum. We’re also the second-largest producer of uranium, lead, ilmenite, zircon (zirconium) and lithium, and the sixth-largest producer of the so-called rare-earth minerals. For all Australia’s riches, we’ve only explored around 20% of our landmass. We, therefore,…